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Tax Advisory Services for Global Architectural Design Firm
With multimillion RMB real estate developments projects involving payments to international sub-contractors, this client wanted to make sure nothing was left on the table.
Client:
Global Architectural Design Firm
Action:
HGR Consulting met with the Client to determine the root cause of their frustration by going through their business process from tender to payment. HGR Consulting put our extensive network and in-depth knowledge of Chinese tax regulations and bureau operations to work. Based on their business model, we were able to reduce the client's withholding tax from 10% to the minimum rate of 2% — a reduction of 8%. This reduction gave the client more flexibility in its tender pricing, and it has won more projects, increased profits, and strengthened its relationships with vital contractors. Pleased with our value-added service, the Client transferred all its accounting outsourcing work to HGR Consulting and additionally engaged us for its HR/Payroll, tax advisory, and compliance matters.
Task/Facts:
The client's China office pitches for multi-million RMB real estate development projects involving various Chinese and international sub-contractors. Working with a local firm, the client faced communication barriers due to language as well as feeling the firm was not acting in their best interests when dealing with local authorities. In the market for a new advisory firm, the Client called in HGR Consulting based on a recommendation.
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